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Which of the following is NOT TRUE about collusion? It refers to collective attempts to reduce...

Which of the following is NOT TRUE about collusion? It refers to collective attempts to reduce competition. Explicit collusion exists when firms directly negotiate output and pricing. Cartel members ignore agreements among them. Coordination is now frequently used to sugarcoat collusion. Collusion is outlawed by antitrust laws in many countries

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Answer #1

Ans. - cartel members ignore agreements among them

A cartel is a formal agreement among firms in an oligopolistic industry. Cartel members may agree on such matters as prices, total industry output, market shares etc.

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